The crypto market is taking a break and recovering slightly from the drama surrounding Binance USD (BUSD) and Paxos stablecoins. Still, things could turn volatile again later today with the release of the US Consumer Price Index (CPI). Nevertheless, we already have a series of big risers in the top 100 that have seen the total market cap of crypto rise 1% in the last 24 hours to $1.052 trillion.
📈 Market Overview#BTC price trades below $22K
The Top-10 are traded in red zone: $MATIC -4.56%, $XRP -2.63%, $ADA -1.87%.
Market cap: $1.08T (-0.5%) $BTC dominance: 39.08% (+0.2%)
Fear & Greed Index: 48 (Neutral)Full Report👉https://t.co/SybpoEV2Gl pic.twitter.com/F6a1sSfVMF
— CryptoRank Platform (@CryptoRank_io) February 13, 2023
Bitcoin price recovers slightly ahead of CPI
Bitcoin (BTC) dipped below USD 21,500 again yesterday, but recovered above USD 21,700 last night and appears to be holding onto it for now. Currently, BTC is making a small bounce after testing this limit and rising to $21,800, which is up 0.8%. But how will the price react to the US inflation data this afternoon?
Bulls don’t want to see the price of #Bitcoin fall back below the short-term holder cost basis😬https://t.co/pGqVveIOgQ pic.twitter.com/wLdoasUlYJ
— Maartunn (@JA_Maartun) February 13, 2023
Ethereum price is already recovering slightly stronger
Ethereum (ETH) fell harder yesterday, but also recovered slightly stronger than bitcoin. The ether price fell to $1,470 yesterday, but seems to be finding support around $1,500 since last night. The ether price is rising to $1,513 at the time of writing and is therefore 1.9% up today.
How did #Ethereum perform in its first full quarter post Merge?
+Gross issuance fell by 87%, just negative for Q4
+Combatting transaction censorship, OFAC-compliant blocks down to 61% by EOQ
+Layer-2 transaction share nears 50% by EOQ🔗 to the State of Ethereum Q4 report👇 pic.twitter.com/AXgk8BHuiU
— Messari (@MessariCrypto) February 13, 2023
Cardano strongest riser in green crypto top 10
Binance coin (BNB) also seems to be recovering somewhat, but is still lagging slightly in comparison, probably due to the BUSD situation. The BNB price is currently testing the border around $294 and is therefore up 0.3%.
Ripple (XRP) recovers 1.3% to USD 0.37. Polygon (MATIC) is up 1.4% to $1.18. Dogecoin (DOGE) is up 1.5% to USD 0.082. Cardano (ADA) was by far the strongest recovery and is currently rising to $ 0.36, which means that the price is up 3.2%.
📊 #Cardano‘s brutal 2022 is far from a distant memory, even with a nice +45% rally here in 2023. Our latest insight looks at the #onchain upside that is peeking, including a major rise in whale activity, trader losses that lessons future risk, and more. https://t.co/sZPBdzQYyf pic.twitter.com/SvK9Sx5HjS
— Santiment (@santimentfeed) February 14, 2023
Crypto top 100 fastest risers
In the top 100 we find a number of harder risers today. Solana (SOL), just outside the top 10, is already up 5.2% to $21.4. Klaytn (KLAY), singularitynet (AGIX), the graph (GRT) and hedera (HBAR) are up about 6%. Aave (AAVE) is already up 8%, maker (MKR) up 10% and phantom (FTM) up 11.5% to $0.47.
Notice that #phantom trades between two significant supply walls.
One acting as support between $0.25 and $0.38, where ~10,000 addresses purchased ~783 million $FTM. And the other one acting as resistance between $0.43 and $0.49, where ~3,000 addresses bought ~656 million #FTM. pic.twitter.com/HPReRnRfMI
— Ali (@ali_charts) February 14, 2023
Aptos (APT) is up 12% today, trading in at around $14.16. Curve (CRV) is even up 14% to $1.04. GMX (GMX) is up 16% at around $72. Bitget token (BGB) steals the show today with a whopping 24% increase to $0.4.
Good morning everyone, nice one #Valentine’s Day.
Enjoy being with your loved one ❤️
— Bitget Netherlands (@Bitget_nl) February 14, 2023
Trade together with Crypto Insiders
Are you looking for help with trading? Do you have questions and would you like to receive technical analyzes for a large number of crypto coins immediately? Join and try a Premium membership free for 30 days. Here our analysts share their market knowledge and the latest analyzes 24/7. Here you can also get in direct contact with various market experts and crypto enthusiasts who are ready to help you!
Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.